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The Queen's Beasts (coin)

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The Lion of England (Bullion Silver)
United Kingdom
Value5 pounds sterling
Mass62.42 g
Diameter38.61 mm
Thickness6 mm
EdgeMilled
Composition.9999 silver
Years of minting2016
Obverse
DesignQueen Elizabeth II
DesignerJody Clark
Design date2015
Reverse
DesignThe Lion of England
DesignerJody Clark
Design date2016

The Queen's Beasts coins are British coins issued by the Royal Mint in platinum, gold, and silver since 2016.[1][2][3][4][5][6][7] Each of the 10 beast coins in the series features a stylized version of one of the heraldic Queen's Beasts statues present at the coronation of Queen Elizabeth II representing her royal line of ancestry. The silver coin is notable as the first two-ounce United Kingdom silver bullion coin.[1] Engraver Jody Clark designed the entire series.[1] In December 2016, a full line of proof-quality coins was announced.[8] In 2017, the mint began producing a platinum version of the coin. In April 2021, the Royal Mint issued an eleventh "Completer Coin" that featured all 10 of the Queen's Beasts, taking the series to 11 coins in total. The April 2021 release included a "one of a kind" gold coin weighing 10 kg and a denominated value of £10,000. Based upon the UK spot price at the time of release, the 10 kg gold coin had an intrinsic scrap value of approximately £411,000. It was widely reported that the 10 kg gold coin was the heaviest gold coin the Royal Mint had ever produced and that it had taken 400 hours to produce, four days to polish and has been described as a "Masterwork". The Royal Mint announced that Completer Coin completes the Queen's Beasts commemorative collection.[9]

Single coins were delivered in a plastic coin capsule or flip, as chosen when ordering. Bulk orders were delivered in the same containers used for packaging Britannia bullion coins: 10 coins per tube, 20 tubes per box. The tube for silver can potentially hold a total of 14 coins. Proof coins were typically delivered in a coin capsule along with a display box and a booklet explaining the beast's significance in heraldic art.

On February 18, 2016, Wholesale Direct Metals announced that they would be the exclusive North American distributor for the Royal Mint of the Lion of England bullion coins.[10] By mid-2016, the coins were widely available for sale and trade from a variety of sources. The proof versions were widely available in December 2016.

Common obverse

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The obverse features the fifth definitive coinage portrait of Queen Elizabeth II,[11] surrounded by the text "ELIZABETH II • D • G • REG • F • D • (2/5/10/25/100/500/1000) POUNDS". DG REG FD is an abbreviation of the Latin "Dei Gratia Regina Fidei Defensor," meaning "By the Grace of God, Queen, Defender of the Faith". It is a form of the style of the British sovereign of Queen Elizabeth II common on coins of the Pound Sterling. The initials of artist Jody Clark appear just below the portrait.

Reverse on bullion coins

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The reverse features a stylized rendition of the beast surrounded by the text "[BEAST'S NAME] • (¼/1/2/10) oz • FINE (GOLD/SILVER/PLATINUM) • 999.(5/9) • (2016/-/2021)". Jody Clark's initials appear just below the shield, offset either to the left or to the right.

Reverse on proof and brilliant uncirculated coins

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The reverse features a slightly different stylized rendition of the beast from the bullion version, surrounded by the text "[BEAST'S NAME] • (2016/-/2021)". Jody Clark's initials appear within the shield, offset either to the left or to the right.

I. Lion of England

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The Lion of England is the first in the series of Queen's Beasts coins, released in March, 2016.[1] The initial allocation of bullion coins from the Royal Mint sold out[12] and were not available again until mid-June 2016. Proof versions were announced in November 2016.

II. The Griffin of Edward III

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The Griffin of Edward III is the second in the series of Queen's Beasts bullion coins, released in 2017.

III. Red Dragon of Wales

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The Red Dragon of Wales is the third in the series of Queen's Beasts bullion coins, released in 2017.

IV. Black Bull of Clarence

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The Black Bull of Clarence is the fourth in the series of Queen's Beasts bullion coins, released 2018.

Obverse

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Beginning with this fourth release, the obverse background of the bullion versions was changed from a stucco-like finish to an arcing pattern of many small diamonds.

V. Unicorn of Scotland

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The Unicorn of Scotland is the second in the series of Queen's Beasts bullion coins, released in 2018.

VI. Yale of Beaufort

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The Yale of Beaufort is the sixth in the series of Queen's Beasts bullion coins, released in 2019.

VII. Falcon of the Plantagenets

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The Falcon of the Plantagenets is the seventh in the series of Queen's Beasts bullion coins, released in 2019.

VIII. White Lion of Mortimer

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The White Lion of Mortimer is the eighth in the series of Queen's Beasts bullion coins, released in 2020

IX. White Horse of Hanover

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The White Horse of Hanover is the ninth in the series of Queen's Beasts bullion coins, released in 2020.

X. White Greyhound of Richmond

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The White Greyhound of Richmond is the tenth coin in this series, Released in 2021

XI. The Completer Coin

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The "Completer Coin" is a commemorative of the series and it brings together all ten of the Queen's Beasts on one coin. It is presented in non-bullion variants with a booklet detailing the fascinating history and symbolism behind each beast. Released in April 2021.[13]

The Completer Coin introduced 2 kg and 10 kg gold versions featuring the popular Queen's Beasts designs for the first time, and this commemoration of the series does not include several versions in the actual series such as 1/4 oz gold in both proof and bullion formats.[citation needed]

Royal Mint's pricing strategy on the Completer Coin

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Analysis of the recommended retail price (RRP) for each of the Completer Coin variants at time of issue and comparing these with the intrinsic value provides an insight into Royal Mint's pricing strategy. The RRP changed throughout the series.[14] The spot price per gram on 30 April 2021 for gold was £40.9; and for silver was £0.6.[15][16]

An analysis of The Collector's Coin RRP and intrinsic value.
Coin RRP Weight in
grams
Intrinsic value
at launch
Combined Royal Mint profit,
manufacturing, distribution, and
VAT (silver only) costs
(RRP minus the intrinsic value of
raw materials)
One ounce gold proof coin £2,315 31.21 £1,276.49 £1,038.51
Five-ounce gold proof coin £10,525 156.295 £6392.47 £4,132.53
Gold proof kilo coin £63,380 1,005 £41,104.5 £22,275.5
Gold proof 2 kilo coin £139,200 2,010 £82,209 £56,991
Gold proof 10 kilo coin Price on application 10,005 £409,204.5 N/A
One ounce silver proof coin £92.5 31.21 £18.73 £73.77
Five-ounce silver proof coin £455 156.295 £93.78 £361.22
Ten-ounce silver proof coin £865 312.59 £187.55 £677.45
Silver proof kilo coin £2,270 1,005 £603 £1,667
£5 brilliant uncirculated coin £13 28.28 est. £0.5[17] £12.5

The estimate of the intrinsic value of the £5 cupro-nickel coin is based upon the Royal Mint's statement made when making the business case to change the composition of the material used to produce the 10p coin from cupro nickel to steel. The statement made implied that the intrinsic value of the metal used was less than the face value of the 10p coin. When an economy uses a fiat currency, it is important that the face value of a coin is greater than the intrinsic value to prevent opportunists hoarding coins and then melting them for scrap to make a profit as was seen with the old copper 1p and 2p coins that had an intrinsic value 50% above their face value and thus the government were forced to replace them.

The intrinsic value of the 10p coin was widely reported as being close to the face value and given this, dividing a face value of old 10p by the weight of the cupro nickel in the coin (6.5 g), and multiplying that intrinsic value per gram by the weight of the £5 brilliant coin (£28.28), the estimate of about £0.5 was produced.[17] This figure shows that The Royal Mint is able to produce, market, package and distribute a high quality coin and make a profit for under £12.5 a coin.

Specifications

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The following table contains specifications for each coin.[18][19][20][8]

Quality Purity Metal Edition Face Value Weight Diameter
Bullion .9999 Gold 1 oz £100 31.21 g 32.69 mm
¼ oz £25 7.8 g 22 mm
Silver 10 oz £10 311.055 g 89 mm
2 oz £5 62.42 g 38.61 mm
.9995 Platinum 1 oz £100 31.21 g 32.69 mm
Proof .999 Gold 10 kg £10,000 10,005 g 200 mm
2 kg £2,000 2,010 g 150 mm
1 kg £1,000 1,005 g 100 mm
.9999 5 oz £500 156.3 g 50 mm
1 oz £100 31.21 g 32.69 mm
¼ oz £25 7.8 g 22 mm
.999 Silver 1 kg £500 1,005 g 100 mm
10 oz £10 312.59 g 65 mm
5 oz 156.3 g
1 oz £2 31.21 g 38.61 mm
Brilliant Uncirculated Cupro-nickel £5 28.28 g

Mintage

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The following table has the most recent available information on the numbers of coins minted by year and design.[8][21][22]

Position Bullion
Release
Order
Obverse Reverse Bullion Proof Brilliant Uncirculated
.9999 .9995 .999 .9999 .999 Cupro-nickel
Gold Silver Platinum Gold Silver
1 oz ¼ oz 10 oz 2 oz 1 oz 10 kg 2 kg 1 kg 5 oz 1 oz ¼ oz 1 kg 10 oz 5 oz 1 oz ¼ oz (RP) 1 oz
£100 £25 £10 £5 £100 £10,000 £2,000 £1,000 £500 £100 £25 £500 £10 £10 £2 50p £5
I 1 Queen Elizabeth II Lion of England 2016
Unl.
2016
Unl.
2017
Unl.
2016
Unl.
2017
Unl.
2017
25
2017
125
2017
1,000
2017
2,500
2017
600
2017
1,250
2017
2,500
2017
8,500
2021
1,250
2017
Unl.
2018
Ltd.
2019
Ltd.
II 4 Unicorn of Scotland 2018
Unl.
2018
Unl.
2019
Unl.
2018
Unl.
2019
Unl.
2017
13
2017
85
2017
475
2017
1,500
2017
225
2017
850
2017
750
2017
6,250
2017
Unl.
III 3 Red Dragon of Wales 2017
Unl.
2017
Unl.
2018
Unl.
2017
Unl.
2018
Unl.
2018
13
2018
90
2018
500
2018
1,500
2018
200
2018
700
2018
500
2018
6,000
2018
Unl.
IV 5 Black Bull of Clarence 2018
Unl.
2018
Unl.
2019
Unl.
2018
Unl.
2019
Unl.
2018
10
2018
75
2018
400
2018
150
2018
600
2018
700
2018
4,360
V 6 Falcon of the Plantagenets 2019
Unl.
2019
Unl.
2020
Unl.
2019
Unl.
2020
Unl.
2019
13
2019
85
2019
445
2019
1,250
2019
125
2019
400
2019
550
2019
5,650
2019
Unl.
VI 7 Yale of Beaufort 2019
70
2019
1,000
2019
120
2019
240
2019
335
2019
4,360
VII 8 White Lion of Mortimer 2020
Unl.
2020
Unl.
2021
Unl.
2020
Unl.
2021
Unl.
2020
13
2020
70
2020
445
2020
1,000
2020
120
2020
240
2020
335
2020
4,360
2020
Unl.
VIII 9 White Horse of Hanover 2020
Unl.
2020
69
2020
435
2020
115
2020
235
2020
315
2020
4,310
IX 10 White Greyhound of Richmond 2021
Unl.
2021
Unl.
2022 Unl 2021
Unl.
N/R 2021
10
2021
69
2021
425
2021
1,010
2021
80
2021
195
2021
370
2021
3,960
2021
Unl.
X 2 Griffin of Edward III 2017
Unl.
2017
Unl.
2018
Unl.
2017
Unl.
2018
Unl.
2021
115
2021
500
2021
1,240
2021
70
2021
140
2021
290
2021
4,400[23]
XI 11 The Completer Coin featuring

all 10 of the Queen's Beasts

2021
Unl.
2021
Unl.
2021

1

2021

4

2021

16

2021

135

2021

625

2021

75

2021

125

2021

300

2021

7,100

See also

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References

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  1. ^ a b c d The Queen’s Beasts are brought to life in a new bullion coin range. The Royal Mint Blog 31 March 2016
  2. ^ "Royal Mint Launches Queen's Beasts". Coin World. Retrieved 13 August 2016.
  3. ^ "Royal Mint surprises with Queens Beasts, new gold and silver bullion coin series – AgAuNEWS". AgAuNEWS. 25 March 2016. Retrieved 13 August 2016.
  4. ^ "Royal British Mint Issues New "Queen's Beasts" Gold and Silver Bullion Coins — World Mint News Blog". world.mintnewsblog.com. Retrieved 14 August 2016.
  5. ^ "Royal Mint begins new bullion coin program | Coin World". Retrieved 13 August 2016.
  6. ^ lawrieongold (30 March 2016). "UK's Royal Mint introduces 'The Queen's Beasts' gold and silver coins". lawrieongold. Retrieved 14 August 2016.
  7. ^ Rodger, James (30 March 2016). "New £100 coin unveiled – here's how to get one". Retrieved 14 August 2016.
  8. ^ a b c "Queens Beasts Lion coin now available in a full range of gold and silver proof sizes – AgAuNEWS". agaunews.com. 5 December 2016. Retrieved 5 December 2016.
  9. ^ "Royal Mint unveils largest ever coin - a 10kg solid gold beast". The Week UK. 29 April 2021. Retrieved 1 May 2021.
  10. ^ "Wholesale Direct Metals Chosen by The Royal British Mint to Be the Exclusive North American Distributor for the 2016 Royal British Lion Gold & Silver Coins". Retrieved 13 August 2016.
  11. ^ "The fifth portrait of The Queen is unveiled". 2 March 2015. Retrieved 13 August 2016.
  12. ^ "Queen's Beasts Secondary Market Prices Too High". Coin World. Retrieved 13 August 2016.
  13. ^ Harris, Sophie (29 April 2021). "Royal Mint releases 10kg gold coin that is largest ever made for Queen's Beasts collection". Express.co.uk. Retrieved 29 April 2021.
  14. ^ "The Royal Mint unveils its largest coin in its 1,100-year history – a 10 kilo gold 'Masterwork'". www.royalmint.com. Retrieved 1 May 2021.
  15. ^ Price, Gold. "Gold Price". Gold Price. Retrieved 1 May 2021.
  16. ^ "أحدث أسعار الذهب مباشرة - GOLD PRICE LIVE" (in Arabic). 6 May 2023. Retrieved 2 February 2024.
  17. ^ a b "Cupro Nickel Replacement Programme | The Royal Mint". www.royalmint.com. Retrieved 1 May 2021.
  18. ^ "Buy The Queen's Beasts 2016 – The Lion – 1 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  19. ^ "Buy The Queen's Beasts 2016 – The Lion – 1/4 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  20. ^ "Buy The Queen's Beasts 2016 – The Lion – 2 oz Silver Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  21. ^ "The Queen's Beasts Series". www.royalmint.com. Retrieved 26 April 2018.
  22. ^ "The Queen's Beasts 2021 UK Quarter-Ounce Silver Proof Ten-Coin Set". www.royalmint.com. Retrieved 7 July 2021.
  23. ^ "The Royal Mint unleashes the Griffin of Edward III as the final beast to join the Queen's Beasts collection". www.royalmint.com. Retrieved 13 February 2021.